Biltmore Wealth Management LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Biltmore Wealth Management LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 560 shares of the Internet television network’s stock after acquiring an additional 18 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Netflix were worth $499,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC grew its position in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC increased its stake in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $840.29 on Tuesday. The stock has a market capitalization of $359.19 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a one year low of $475.26 and a one year high of $941.75. The company’s 50-day simple moving average is $879.75 and its 200-day simple moving average is $754.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 over the last 90 days. 1.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. Barclays lifted their price target on Netflix from $550.00 to $715.00 and gave the company an “underweight” rating in a report on Tuesday. Argus boosted their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Morgan Stanley increased their price target on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Bank of America boosted their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Pivotal Research upped their price objective on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $837.94.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.